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The phrase "company based in" is correct and usable in written English
It can be used to indicate the location where a company operates or is registered. Example: "The company based in New York has expanded its operations to Europe."
Exact(57)
The company, based in Charlotte.
The company, based in Weirton, W.Va., has 4,100 employees.
The company, based in Montreal, has $4.2 billion in debt.
Mediq is a closely held company based in Pennsauken, N.J.
Mastek, an outsourcing company based in Mumbai, is another example.
Lego is a privately owned company based in Billund, Denmark.
The company, based in Deerfield, Ill., operates 4,681 stores.
Irwin is a diversified financial company based in Columbus, Ind.
The company, based in Montreal, met expectations of market analysts.
It's a company based in France called Syral UK Ltd.
The company, based in Birmingham, Ala., operates 357 stores.
More suggestions(21)
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institution based in
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bus based in
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com